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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling
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To: Michail Shadkin who started this subject6/20/2001 1:40:09 AM
From: Michail Shadkin  Read Replies (2) of 6873
 
Polaroid (PRD) - how far the mighty have fallen

Used to be part of the nifty fifty, today closed at 2.55
WOW

Will they actually go out of business?????

They have the most amazing debt/equity ratio of 3.36
even much higher than most telcos.
Interest payments are stagering.

They do have 1.90 in cash/share
Price/Sales is .08 which is as low as I ever seen without actually zero.

Director did buy some shares not too long ago at 6.86 and 3.50 (not a very good trader, lol)

They do expect a -1.15 loss this year, but a profit of +.16 next year.

The profit is very doubtful in my eyes.

Can Polaroid actually go under?

I keep thinking no.
Why cant they refocus their business?
Digital Cameras are killing them.

There is very high risk in buying PRD shares, maybe 50/50 to go bankrupt or maybe even higher.

Here is an interesting long term play if you feel that PRD could be a turnaround play in 1-2 years.

Instead of buying their stock, look at their junk bonds.
They are like 30 cents now with a current yield of around 40%

Any improvement in business and the bonds will double and in the meantime you collect interest.

(thats assuming they keep paying interest)

This is very similar to CNC prefered stock I recommended over year ago with stock below 5.00 and GTZ rumors
Those preferreds were at 7-8 and easily doubled within 9 months and the interest payments helped the return also.

This is just food for thought for those that believe PRD has a shot for a turnaround.

Michail
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